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Join from PC, Mac, Linux, iOS or Android: Time: This is a recurring meeting Meet anytime Every coins has two faces.Course Syllabus - Economic Principles - Econ 101 - 09 - Fall 2021Įmail Address: Time: M and W 2:00 - 3:15 PM Thus we conclude that globalization is legal in both positive as well as negative aspects. people are consuming more and more junk food to affect their health Globalization also provides a chance to the evil society i.e. With a drastic increase in technology and development among the countries, globalization also leads to the spread of diseases in humans, animals and plants. Critics assume that globalization causes unemployment. Another belief is that globalization affects extracting natural resources leading to environmental damage. The critics believe that globalization affects moving freely across borders in countries. It is thought that globalization leads to cultural dominance and people start to get westernize in different culture lagging in their own heritage. Sports Is another impact of global world.ĭespite of such wonderful aspects of globalization, half of the people in the world criticize about the fact that globalization has brought a drastic change in the world. Globalization has made tourism a popular global leisure activity. Globalization does not lead only to the development of rapid industrial growth but it also recruits growth in tourism activities. With improvement in transportation and communication, international business grew rapidly after the beginning of the 20th century. Globalization leads to new innovative ideas of new technology that we use today as a gift to human race. One can communicate with the other from a large distance in a couple of minutes. It helps in improving people’s lives by making new products and ideas universally available. Advancement in technology from broadband telephone lines to wireless mobile phones, B&W bulky television to colored LED’s, all are examples of globalization. Advancement in transportation, telecommunication systems, infrastructures are the major factors of globalization. The process leads to the updating of information among the people. Globalization leads to the interconnection between the countries of different culture, caste and heritage. Globalization conveys us that something new is happening to the world. Many of the people debate about the impacts of globalization and discuss the for and against conditions for it. However globalization has become a very interesting part of debate among the students, and economists. Globalization brings the new era in the 21st century and we are interconnected through it. Mental pressure on companies that causes many people to loose their jobs.Because of too much exchange of trade, money etc independent domestic policies are lost.
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Another fear is loosing national integrity.Because of too much flow of capital amongst countries, it introduces unfair and immoral distribution of income. Along with positive impact, there is negative too.
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